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Jubilant Life Sciences Limited announces launch of 'JUBI-R' - remdesivir in India for the treatment of COVID-19

Posted On: 2020-08-03 06:45:44


Jubilant Life Sciences Limited, an integrated global pharmaceutical and life sciences company, has announced that its subsidiary, Jubilant Generics Limited ("Jubilant"), has launched remdesivir for injection under the brand name 'JUBI-R' in the Indian market at a price of INR 4,700 per vial of 100 mg (lyophilized injection). The Company will make the drug available to over 1,000 hospitals providing COVID-19 treatment in India through its distribution network. Jubilant's 24 hour help line will enhance access to 'JUBI-R' during these pandemic times, where timely access to the drug may prove critical to treatment outcomes.

In order to increase accessibility of 'JUBI-R' to patients below the poverty line and to front line paramedical staff, Jubilant Bhartia Foundation, a not-for-profit organisation of Jubilant Group, is launching unique programs in India aimed at distribution of the drug.

In May 2020, Jubilant entered into a non-exclusive Licensing Agreement with Gilead Sciences, Inc. (NASDAQ: GILD) that granted it the right to register, manufacture and sell Gilead's investigational drug remdesivir in 127 countries including India. Remdesivir is the only antiviral drug that has received Emergency Use Authorization (EUA) by the USFDA for treatment of suspected or laboratory confirmed COVID-19 in adults and children hospitalized with severe disease. On July 20, 2020, Jubilant received approval from the Drug Controller General of India (DCGI) to manufacture and market the investigational antiviral drug remdesivir ("JUBI-R") for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19. 'JUBI-R' will require to be administered intravenously in a hospital setting under the supervision of a medical practitioner.

"It gives us immense satisfaction to launch 'JUBI-R' as this drug has a potential to save precious lives across the globe. We have launched the product at affordable prices and strive to make it available in sufficient quantities to meet high demand for the drug in the Indian market and in other countries," stated Mr. Shyam S. Bhartia, Chairman & Managing Director and Mr. Hari S. Bhartia, Co-Chairman, Jubilant Pharma Limited. "The Company's ability to launch this product in such short timelines highlights our R&D and manufacturing capabilities and our continued commitment to provide leading healthcare solutions. Through the Jubilant Bhartia Foundation, we will distribute the drug on compassionate basis to save precious lives of people through unique programs."

Shares of JUBILANT LIFE SCIENCES LIMITED was last trading in BSE at Rs.862.3 as compared to the previous close of Rs. 795.3. The total number of shares traded during the day was 170652 in over 9455 trades.

The stock hit an intraday high of Rs. 894.35 and intraday low of 785.55. The net turnover during the day was Rs. 146488600.


Source: Equity Bulls

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